Post de FNF Canada

Combien de cartes de crédit devriez-vous avoir? La réponse : une seule. Maintenant, si vous souhaitez résilier une carte de crédit, voici un excellent article par L'actualité!

U.S. credit cardholders collectively spent $15 billion on late fees in 2022 - officially surpassing pre-pandemic levels again. This will likely change significantly from 2024, however, as the Biden Administration has capped most types of these payments at $8 in a larger effort to reduce so-called junk fees. The Consumer Financial Protection Bureau estimates that the average late fee stood at $32 in the U.S. previously, four times the new limit. According to the watchdog, savings for consumers will amount to $10 billion annually. The new rule says that credit card issuers with more than 1 million accounts have to stick to the $8 limit. Data shows that especially the top 20 issuers had so far charged maximum late fees almost exclusively exceeding $36. Smaller banks had lower fees on average, according to the data, with 80 percent percent of them charging between $21 and $40. Credit unions charged even lower rates, with maximums not exceeding $25 for three quarters of these cooperatives. Late fees constitute the biggest part of credit card fees in the country, with annual and other fees only making up $10 billion opposite a total of $15 billion in late fees paid by U.S. households and businesses in 2022. During the Covid-19 pandemic, U.S. debt making went down while savings went up, causing fewer late fees and less interest incurred through credit cards as Americans were staying home more and spending less. Some issuers also offered waivers for late fees during the pandemic which further reduced their incidence. Late fees have so far made up around one tenth of all credit card interest and fees, which stood at $130 billion in 2022, and they were predominantly paid by those with lower credit scores, poorer Americans and those of color. Another CFPB report shows that despite only making up 12 percent of credit card accounts in 2019, those rated subprime incurred 42 percent of late fee volumes. While interest drove up subprime accounts' balances by 21 percent, late fees added 6 percent for regular subprime and 11 percent for deep subprime accounts. In places with local annual incomes of around $20,000 per adult, annual late fees stood around $30 per account. In areas with $80,000 or more in annual incomes, the average late fee per year was only half that. Likewise, in areas where more than 50 percent of residents identified as Black, average annual late fees exceeded $25 and topped $30 in areas that were 90 percent Black.

🎁🏡 Understanding Gift Funds for Your Mortgage: What are they? Gift funds are monetary gifts from family or friends used to help with your down payment. Pros: ✅ Boost Buying Power: Helps you afford a higher down payment. ✅ Reduce Loan Amount: Lower loan amount can mean better terms and lower monthly payments. Limitations: 📜 Documentation Required: Must provide a gift letter stating the money is a gift, not a loan. 💳 Source Verification: Lenders need to verify the source of the gift funds. 🚫 Usage Limits: Some loan programs have caps on how much can come from gift funds. 🏠 Primary Residence Only: Typically, gift funds are allowed only for primary residences, not investment properties. Using gift funds can be a smart way to enhance your buying power—just make sure to follow the guidelines! 💼✨ #MortgageTips #GiftFunds #HomeBuying #FinancialPlanning

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🚨 Time is ticking—November’s almost over! 🚨 If you’re juggling last-minute deals, trying to keep clients happy, and ensuring everything closes on time, I get it—it’s crunch time. But here’s the thing: it doesn’t have to feel so stressful. At Elite Estate Partners, we specialize in making your closings fast, smooth, and completely hassle-free. Here’s how we can help you this week: ✨ 48-72 Hour Turnarounds: No delays, just results. ✨ Seamless Service: No chasing updates or micromanaging—we handle the details so you can focus on your next deal. ✨ Transparent Pricing: Most transactions close under $2500, all-inclusive. ✨ Proven Expertise: With 20+ years of experience, we deliver on even the most complex transactions. The truth is, a delayed or mismanaged closing doesn’t just waste time—it impacts your clients’ trust and your reputation. That’s why top agents trust us to get it right, every time. Have a deal that needs to close this week? Let’s make it happen. 🎁 First-time agents who work with us this month will receive a $100 gift card as a thank-you for trusting us with their business. Drop me a DM or comment below—I’d love to help you finish November strong. 💼 #mortgageagent #mortgagebrokers #realestateclosings #realestatelawyer #realestateagent #realtor #ontariorealestate #privatelending #privatemortgage #privatelender #mortgages #ontario #canada

Une mauvaise cote de crédit peut être la raison pour laquelle vous vous voyez refuser une demande de prêt ou de prêt hypothécaire. Voici quelques conseils pour améliorer votre cote de crédit au fil du temps : 1. N’annulez pas toutes vos cartes en même temps. 2. Faites vos paiements à temps, chaque mois. 3. Gardez les soldes de vos cartes de crédit bas. Et plus encore. Des questions? Communiquez avec moi. http://spr.ly/6008TYrPs

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My patience is basically like a gift card. Not sure how much is left on it but we can give it a try. John Williams New York Fed Gov recap: -NO NEED TO CHANGE MONETARY POLICY ‘IN VERY NEAR TERM’ -EVENTUALLY’ WILL NEED TO CUT RATES Key word here people....EVENTUALLY! -FED RATE HIKE NOT PART OF BASELINE VIEW FOR OUTLOOK So we have that going for us. -FED POLICY MAKING PROGRESS WORKING OUT ECONOMIC IMBALANCES -CORE SERVICES EX-HOUSING INFLATION FALLING FASTER THAN EXPECTED Core services are composed of housing services and services excluding housing, which account for about 34% and 28% of the CPI respectively. -SHELTER INFLATION SLOWER TO COME DOWN THAN EXPECTED Shelter inflation encompasses both rent and utility payments for renters and the estimated rental cost of similar houses for homeowners. Notably, shelter accounts for nearly a third of the Consumer Price Index (CPI) inflation basket, and 40% of the core CPI, which excludes volatile food and energy components. -RECENT INFLATION SETBACKS ARE NOT A SURPRISE TO FED....I wonder how much money we could save if they (FED) just didnt meet til they had something real to say....or something different...or even something funny? If you are wading through, pondering, looking, or dreaming about home loans and want to chat please connect with me.

Une mauvaise cote de crédit peut être la raison pour laquelle vous vous voyez refuser une demande de prêt ou de prêt hypothécaire. Voici quelques conseils pour améliorer votre cote de crédit au fil du temps : 1. N’annulez pas toutes vos cartes en même temps. 2. Faites vos paiements à temps, chaque mois. 3. Gardez les soldes de vos cartes de crédit bas. Et plus encore. Des questions? Communiquez avec moi. http://spr.ly/6008TYrPs

Survey: HousingWire readers have a pulse on the housing market https://ift.tt/Kbuy9Rt Real estate and mortgage professionals: Your voice matters! Each quarter, HousingWire will tally the results and compile a report to gauge the market and provide you with valuable market trends, opportunities, and challenges. There is much to learn about the challenges real estate and mortgage professionals are facing. And, this survey includes relevant questions on which presidential candidate has a better plan for housing, your opinion on whether or not Freddie and Fannie should be privatized and what scripts are working for real estate professionals as they navigate the new compensation rules and forms. Bonus: Enter your name and email address for a chance to win one of three $50 Amazon gift cards. Fill out the 5 minute survey today! Deadline: September 25 HousingWire Pulse is a forward-looking survey. via HousingWire https://ift.tt/ax9RSWw September 16, 2024 at 08:28AM